Neurovascular Embolectomy Device Market Size Set to Register USD 1.9 Billion by 2026
The Global Neurovascular Embolectomy Device Market is expected to reach the market value of around $1.9 billion by 2025 and is projected to grow at a CAGR of over 17% in terms of revenue during the period 2018 ndash; 2025. Escalating cases of stroke with changing lifestyle and environmental calamities have boosted the demand for neurovascular embolectomy devices. Neurovascular embolectomy device market is driven by increasing cases of strokes, innovation and product development, international trade, and increasing consumer awareness for strokes across the globe. Superior healthcare treatment with better devices that offer improved success rates increases the adoption of neurovascular embolectomy devices. Growing consumer knowledge for post surgery safety has increased the application of apt devices suitable for patients. Hence, rising expenditure capacity and increasing knowledge of consumers are also fueling the demand for neurovascular embolectomy devices. The strengthening economic conditions in different countries, as well suggest decent growth break-through for the stake-holders of neurovascular embolectomy device market.
The standardization of legal framework by global and regional healthcare organizations and government has generated opportunities for manufacturers to invest in product and market development. Focusing on research amp; development by government and industry players can take the neurovascular embolectomy device market to sustainable market growth. Moreover, this has paved a way for increased international trade thereby promoting healthy sharing of technology, education, neurological science and quality improvement.
Federal amp; regulatory body laws and regulations possess to be the prime challenge to the neurovascular embolectomy device market. According to key industrialists and opinion leaders, the norms and procedures for neurovascular embolectomy device research amp; development and industrial applications have been strictly regulated due to safety concerns. This may affect the demand for both the neurovascular embolectomy device industry and its end-use application. In addition, global downturn and high cost of technology also possesses a potential risk to the growth of the neurovascular embolectomy device market.
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Bare Platinum Coils to Aid Growth of Market
Neurovascular device market has experienced an intense move regarding products and systems. Specialists need to receive instruments and procedures that offer higher window for stroke treatment with high achievement rate and negligible post-surgical effect. This is sustained by the way that interest for uncovered platinum loops is developing at a higher pace in contrast with coated coils. This is mainly because of huge expenses related to coated coils and their less enhanced clinical results contrasted with bare platinum coils. Also, stroke treatment includes high healthcare spending that drives the focus on improvement of efficient treatment strategies.
Currently, North America is the largest market for neurovascular devices. As per Stroke Association, approximately 1 million Americans each year are affected by stokes. Also, this is one of the leading triggers of disability and death. In the U.S., the financial drain of stroke is valued at around USD 30 billion annually, which includes the expenditure on health care services, prescriptions, and reduced output. The ASA has put up great effort to transform the existing healthcare systems and patients worldwide by collaborating with other countries, governments and international cerebrovascular societies. Europe is the second largest market for neurovascular embolectomy devices. However, the adoption rate of the neurovascular embolectomy devices in Europe is less than that of North America. This is owing to the compliances laid down by the European Union regulatory authority. Pursued by, China and India which also experiences similar stroke risk factors as western countries.
Global neurovascular embolectomy device market is segmented by product and geography. Based on different products, the market is segmented into aspiration devices, stent retrievers. Based on geography, the market is further classified into North America, Europe, China, Japan, Southeast Asia, India, Rest of World.
Stent Retrievers Held Largest Share In Neurovascular Embolectomy Device Market
Among neurovascular embolectomy devices, stent retrievers held the principle share as far as income and utilization in 2017. Unique overlapping stent retriever-based technology restores blood flow and retrieves clots from occluded blood vessels in the brain for patients experiencing acute ischemic stroke (AIS) due to a large vessel occlusion (LVO). In fact, the Solitaire device is indicated to reduce stroke-related disability by showing nearly 70% relative improvements in functional outcomes at 90 days in patients suffering a large vessel occlusion. Therefore, holding the prime piece of the overall industry and is foreseen to keep up its predominance over the coming years.
The market is very focused with numerous worldwide players working in similar geologies, with modest product differentiation. Additionally the worldwide players need to contend with local players who offer comparable items at less expensive rates. The nearby players additionally approach a solid circulation channel which causes them contend with worldwide players. Some of the key players operating in the global neurovascular embolectomy device market profiled in the report include Medtronic, Boston Scientific Corporation, Teleflex Inc, DePuy Synthes, Cook Medical, Straub Medical AG, LeMaitre Vascular, Inc, Edwards Lifesciences Corporation, iVascular SLU among others.
TABLE OF CONTENT
Chapter 1. Summary
Chapter 2. Industry Overview of Neurovascular Embolectomy Device
Chapter 3. Manufacturing Cost Structure Analysis of Neurovascular Embolectomy Device
Chapter 4. Technical Data and Manufacturing Plants Analysis of Neurovascular Embolectomy Device
Chapter 5. Global Neurovascular Embolectomy Device Overall Market
Chapter 6. Neurovascular Embolectomy Device Regional Market Analysis
Chapter 7. Global 2013-2018E Neurovascular Embolectomy Device Segment Market Analysis (by Type)
Chapter 8. Major Manufacturers Analysis of Neurovascular Embolectomy Device
Chapter 9. Development Trend of Analysis of Neurovascular Embolectomy Device Market
Chapter 10. Neurovascular Embolectomy Device Marketing Type Analysis
Chapter 11. Consumers Analysis of Neurovascular Embolectomy Device
Chapter 12. Conclusion of the Global Neurovascular Embolectomy Device Market Professional Survey Report 2016
Chapter 13. Methodology and Data Source
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